No Cost EMI - Cancellation - All Banks - Master Wiki

[Chiraggyl]

Did axis changed the emi cancellation charges ? After 12 th July?. Any update

Did you find anything?

 

[nayra]

HDFC Update as of 19th June 2025.

NCEMI Still works .

You take a NCEMI Online -> The EMI settles within 1-3 Days -> Login to Mycards and Click on Preclose the EMI -> an EMAIL will be recieved "Preclosure request related to your HDFC Bank Credit Card." -> The next day Pay the Amount mentioned in the Email , -> Say as per Below email i am supposed to pay 27363.08 by 28th April -> after doing that The amounts charged like Preclosure charges -> pro-rata interest -> Emi convertion charges will get reverted within 3 working days ( ie by 2nd May) .The GST paid for EMI processing fee wont be reverted. total loss 53.71 ruppes . (18% of 299/-)



Attaching Image for Reference . View attachment 101043

Is this still working?

Got an offline deal for NCEMI at Reliance Digital, they state there won't be any hidden cost or GSTs on interest too, just the initial processing fee, is it accurate?

But then why people will look for preclosure? Would be great if someone updates main post if this works

 

[ankit ojha]

Did you find anything?

Nope! Need confirmation from others

 

[nikhilv0303]

Is this still working?

Got an offline deal for NCEMI at Reliance Digital, they state there won't be any hidden cost or GSTs on interest too, just the initial processing fee, is it accurate?

But then why people will look for preclosure? Would be great if someone updates main post if this works

Not sure how merchant can confirm about gst on interest. Usually that’s how all emi work - gst is always there on emi

 

[sahillearner]

I did transaction on tata neu using HDFC Tata neu infinity cc on 12/07/2025 using the no cost emi. But I don't see this transaction updated under the linked emi option in my cards app. Does it really take this much time? Any on ehas any idea how much time this takes?

 

[rakhi]

I did transaction on tata neu using HDFC Tata neu infinity cc on 12/07/2025 using the no cost emi. But I don't see this transaction updated under the linked emi option in my cards app. Does it really take this much time? Any on ehas any idea how much time this takes?

Bro wait till Wednesday r Thursday it Wil update

 

[Chiraggyl]

Nope! Need confirmation from others

I bought NCEMI from samsung using Axis card, waiting for EMI creation.

 

[helloworld]

Could someone edit the #1 with latest changes.

 

[The_Necromancer]

I can confirm that no foreclosure charges were levied when I cancelled my emi on Axis yesterday 🙂

 

[nikhilv0303]

I can confirm that no foreclosure charges were levied when I cancelled my emi on Axis yesterday 🙂

Can you pls share the full process you followed?

 

[ankit ojha]

Can you pls share the full process you followed?

Just call cc and ask them to close emi

 

[nikhilv0303]

Just call cc and ask them to close emi

This was after EMi conversion took place right?

 

[iamgroot]

This was after EMi conversion took place right?

kaise kaise sawal puhte ho😃😃


emi convert hoga tabhi to cancel hoga😄

 

[theMessiah]

This is the message I received from axis web chat support
"I would like to inform you that processing Fee - Flat Rs 199 + GST applicable Foreclosure Charges 3% on the unpaid principal at the time of foreclosure + GST applicable No foreclosure charges will be levied if EMI is cancelled within 15 days of booking (MEEMI) and processing fees charged will be reversed. If the Merchant EMI is foreclosed after 15 days, foreclosure charges of 3% + 18% GST will apply on the outstanding principal amount and processing fees can not be reversed."
Hope this helps.

 

[drshivam]

please read these tnc... This was received with my merchant emi transaction document. I cancelled the emi and all the charges were reversed.

 

[nayra]

Thinking of buying this:
Take a look at this Samsung 9 kg 5 Star, AI Ecobubble, Super Speed, Wi-Fi, Hygiene Steam, Digital Inverter Motor Fully Automatic Front Load Washing Machine with In-built Heater Grey on Flipkart

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On HDFC 6k instant discount or 8.5k NCEMI. Clueless about calculations and how many charges remain if I cancel and pay full amount of NCEMI. Can anyone guide me on this? TIA

 

[ARIX]

Thinking of buying this:
Take a look at this Samsung 9 kg 5 Star, AI Ecobubble, Super Speed, Wi-Fi, Hygiene Steam, Digital Inverter Motor Fully Automatic Front Load Washing Machine with In-built Heater Grey on Flipkart

https://dl.flipkart.com/s/okdchVuuuN

On HDFC 6k instant discount or 8.5k NCEMI. Clueless about calculations and how many charges remain if I cancel and pay full amount of NCEMI. Can anyone guide me on this? TIA

Emi cancellation charge 3% of 27275 (the payment amount) with processing fees and gst

 

[nayra]

Emi cancellation charge 3% of (38000-8500) with processing fees

This is charged even if cancelled within 3 days of EMI Conversion?

 

[ARIX]

This is charged even if cancelled within 3 days of EMI Conversion?

Yes for hdfc

I have edited the message above

 

[VISION]

Anyone tried ICICI no cost emi recently? Is it working still?

now it is chargeable 3%+gst